‘Buy Now, Pay Later’: A New Wave of Consumer Debt

New York Times The Daily (podcast)-Hosted by Natalie Kitroeff, Featuring Stacy Cowley

As Americans struggle with rising costs just about everywhere, they’re increasingly turning to a new form of credit — “buy now, pay later” loans. Those loans have exploded since the pandemic, in part because they’re easier to get and often cheaper than credit cards. And now people are relying on them for everything from groceries to rent.

Today, my colleague, Stacey Cowley, explains the draw and the hidden risks of “buy now, pay later” loans and what their rise says about the state of the American consumer.

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